Monthly employment stats from ADP
- Prior was +183K (revised to 197K)
- Estimates ranged from 125K to 240K
- Smallest increase since Sept 2017
- Goods producing -6K
- Service producing +135K
It's the 'weakest' reading in 17 months but it's hardly a red flag. Adding 129K jobs in an economy with ultra-low unemployment is fine result. USD/JPY is a smidge weaker but the ISM non-manufacturing report is going to be a much bigger deal.
